Intimation related to Long Stop date extension.
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Kesar Terminals & Infrastructure Ltd has further extended the Long Stop date for the sale of up to 100% equity and/or preference stake in its wholly-owned subsidiary, Kesar Multimodal Logistics Limited (KMLL), to DP World Multimodal Logistics Pvt Ltd. The new Long Stop date is August 31, 2025. This follows multiple earlier extensions since the Share Subscription & Share Purchase Agreement (SSPA) was signed in September 2023. The deal remains subject to fulfilment of conditions precedent and necessary regulatory/statutory approvals. The transaction, if completed, would involve disposal of a material subsidiary.
Repeated extensions signal continued delays in closing the deal, likely due to pending conditions or regulatory approvals, which may concern shareholders awaiting closure. Until the sale is completed, the company retains ownership of KMLL, and the financial impact of the divestment remains unrealised.